TalkTalk Hires Executive Chairman, CEO -- Update
01 February 2017 - 10:04PM
Dow Jones News
(Adds share price, detail of management changes.)
By Simon Zekaria and Ian Walker
LONDON--Two of the U.K.'s best known high-street consumer brands
announced boardroom shakeups Wednesday, with the founder and
chairman of Dixons Carphone PLC (DC.LN), Charles Dunstone, stepping
down from his role on April 30 to become executive chairman of
TalkTalk Telecom Group PLC (TALK.LN), which has also replaced its
chief executive.
Electronics retailer Dixons Carphone, a FTSE 100 company, said
it was replacing Mr. Dunstone with Ian Livingston, who has been
deputy chairman since 2015.
Another executive, Tony DeNunzio, steps up to become deputy
chairman.
Mr. Dunstone was previously a part-time chairman at TalkTalk, a
telecommunications and internet services provider.
TalkTalk said Chief Executive Dido Harding had resigned after
seven years at the helm, to be replaced by Tristia Harrison who is
currently managing director of TalkTalk's consumer business. Ms.
Harding is leaving to focus more on public service, the company
said.
TalkTalk also appointed Charles Bligh, currently managing
director of TalkTalk's business-focused operations, as its new
chief operating officer.
TalkTalk, which competes in the U.K. with companies like BT
Group PLC and Vodafone Group PLC, reported a 5.2% fall in
third-quarter revenue to 435 million pounds ($544 million), though
it backed its guidance for strong earnings before interest, taxes,
depreciation and amortization growth.
The board plans to recommend an unchanged final dividend of
10.58 pence for fiscal 2017.
At 1001 GMT, shares in TalkTalk were up 6.7% at 167 pence.
Shares in Dixons Carphone fell 0.3%.
-Write to Simon Zekaria at simon.zekaria@wsj.com and Ian Walker
at ian.walker@wsj.com
(END) Dow Jones Newswires
February 01, 2017 05:49 ET (10:49 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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